France sells its lottery for $2 billion

Comment #7

NY10 — Sat, 23 Nov 2019 06:40:07 GMT

World is all about Power and Money for the past at least 500 years

Comment #6

gatorsrok — Sat, 23 Nov 2019 03:00:28 GMT

Also a brilliant political play. If most of your citizens are invested in your country's oil company and make a ton of money, they are much less likely to complain or revolt against leadership.

Comment #5

Artist77 — Fri, 22 Nov 2019 23:58:57 GMT

C'est vrai.

Comment #4

NY10 — Fri, 22 Nov 2019 21:50:04 GMT

Worlds biggest IPO is coming next month...

Worlds largest and most profitable company

Saudi state oil giant going public

Could be worth between $1.7-$2 Trillion

Only 1.5 percent of company shares are on sale which could be $25 Billion + staggering numbers those

Comment #3

EdG1955 — Fri, 22 Nov 2019 21:43:11 GMT

It'll be interesting to see what privatization does to prizes. With additional profit and debt payoff extraction, payouts tend to fall.

Comment #2

Todd — Fri, 22 Nov 2019 15:49:53 GMT

...of the people, by the people, for the people... is a phrase from Abraham Lincoln's Gettysburg Address not exactly something the French people (or those from other European countries) would claim as their own principle.

Comment #1

Raven62 — Fri, 22 Nov 2019 14:43:42 GMT

The transfer of ownership, property or business from the government to the private sector is termed privatization. The government ceases to be the owner of the entity or business. The process in which a publicly-traded company is taken over by a few people is also called privatization and the end to: Of the People, By the People , and For the People.(ie: Democracy

France sells its lottery for $2 billion

Lottery Post — Fri, 22 Nov 2019 14:19:14 GMT

France will bank 1.8 billion euros (US$2 billion) from selling down its stake in the country's lottery operator, according to the final price set on Wednesday in a listing that will serve as a test for France's privatization push.

President Emmanuel Macron's pro-business government kicked off the biggest wave of privatizations in over a decade with the initial public offering (IPO) of Francaise des Jeux (FDJ), the organization that operates the country's lottery. It is seeking to raise money... [ More ]